Abstract We solve two “unsolvable” ( teyku ) problems from the Talmud that had remained unsolved for about one and a half thousand years despite massive and nearly continuous commentary and analysis throughout the centuries. The Talmudic problems concern the implied decision-making of...

We introduce a new general framework for constructing the best trading strategy for a given historical indicator. We construct the unique trading strategy with the highest expected return. This optimal strategy may be implemented directly, or its expected return may be used as a benchmark to...

We show that any objective risk measurement algorithm mandated by central banks for regulated financial entities will result in more risk being taken on by those financial entities than would otherwise be the case. Furthermore, the risks taken on by the regulated financial entities are far more...